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Warning: date() [function.date]: It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'UTC' for '+08/8.0/no DST' instead in /home/internet/public_html/libraries/joomla/utilities/date.php on line 198

Labuan IOFC - Cost and Benefit Analysis

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Star Rating

Corporate Registration Efficiency

 

Very efficient. Name search takes 1-2 hours only and name reservation within one day. Company can be incorporated in 1-2 day.

Availability of Name

Names are easily available.

Confidentiality

 

Excellent. Unauthorised disclosure of client's information is subject to penalty.

Political Stability

 

Excellent. Since independence in 1957 Malaysia has enjoyed continued political stability.

Maintenance Cost

 

Higher in comparison to IBC jurisdictions like Brunei.

Legal System

 

Based on English legal system. Islamic laws apply to Moslem only on matters involving marriage, custody and inheritance.

Regulator

 

LFSA is the arm of the Central Bank and is an excellent regulator. LFSA is also a member of various international regulatory bodies.

Location

 

Remote from mainland Malaysia although connected by flight on twice-daily basis to and from Kuala Lumpur.

Exchange Control

 

Very liberal.

Rate of Tax

 

Very favourable, being 3% or RM20k which ever is elected.

Double Tax Treaty Access

 

Malaysia has signed 50++ DTT with its business partners and Labuan being part of Malaysia enjoys DTT protection. However a few countries notably Japan, the UK and Switzerland have denied Labuan companies of Malaysia's DTT protection.

Local Banking Services

 

Good. Although there are more than 50 offshore banks in Labuan. Not all of them take deposits. Initial deposit is ranging from US$5k to US$500k. Availability of internet banking is limited.

Time Zone

 

Same time zone with major Asian capitals.

Reputation

 

Labuan is part of Malaysia which is a major trading nation.

 
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